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Vishnu Daya & Co LLP > NewsletterAlerts (Page 19)

Submission of Statement of Financial Transactions (SFT) for dividend

Section 285BA of the Income Tax Act, 1961 and Rule 114E requires specified reporting persons to furnish statement of financial transaction. CBDT has issued a Notification (Notification no. 16/2021, dated 12th March 2021) to include reporting of information relating to dividend income. The dividend information is to be reported by a Company who has distributed dividend during the FY 2020-2021. The statement of financial transactions shall be furnished on or before the 31st May 2021. CBDT has issued a Notification (Notification no. 1 of 2021, dated April 20, 2021) providing the guidelines for preparation, submission and validation of the SFT. Please take note...

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CBDT extends compliance deadlines in wake of pandemic to May 31

CBDT issues a Circular for extension of various compliance deadlines due to the severity of COVID-19; Extension pertains to (i) filing of appeal before CIT(A), (ii) objections before DRP, (iii) ITR in response to notice u/s 148, (iv) belated/ revised filing of ITR, (v) TDS compliance u/s 194-IA, 194-IB and 194M, and (vi) filing of statement in Form No. 61; The deadline has been extended to May 31, 2021 (CBDT Circular No. 8/2021 dt. 30th April 2021)...

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MCA clarifies that spending for COVID care infrastructure is an eligible CSR activity

MCA clarifies that spending of CSR funds for ‘creating health infrastructure for COVID care’, ‘establishment of medical oxygen generation and storage plants’, ‘manufacturing and supply of Oxygen concentrators, ventilators, cylinders and other medical equipment for countering COVID-19’ or similar such activities are eligible CSR activities;...

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MCA provides relaxation on levy of additional fees in filing of certain forms under the Companies Act, 2013 and LLP Act, 2008

MCA through general circular grants additional time upto 31st July 2021 for Companies and LLPs to file such forms other than form CHG 1, CHG 4 and CHG 9 which would be due for filing during 1st April, 2021 to 31st May, 2021 without any additional fees. MCA further provides relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013. This relaxation is applicable in respect of filing of form CHG 1 and Form CHG 9 by a company, where: - the date of creation / modification of charge is before 01/04/2021 but the timeline...

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